From Smith College economics professor James Miller writing in Inside Higher Ed:
"Tenure won’t save us from a higher education collapse. Start making alternative career contingency plans now because this collapse could be sudden and catastrophic.
If you have tenure and therefore think that your college would never get rid of you, consider what would happen if most of your school’s peer institutions replaced expensive tenured faculty with cheap online courses and used the savings to cut tuition by 50 percent. Even if your school has a healthy endowment, many members of your Board of Trustees or Regents probably have business backgrounds and would consider it financial malfeasance for the school to bear costs that the majority of its competitors had shed.
I'm far from certain that the higher education market will disintegrate. But the reasonable chance that it might should be enough to get young and middle-aged tenured professors to think about what we would do if forced out of academia. And bear in mind that if academia suddenly collapsed, the job market would be flooded with former professors, making it extraordinarily challenging for us to get jobs, such as editing and teaching high school, that are well-suited to many professors' skills."